September 27, 2025 • 39 mins
Chris Markowski, the Watchdog on Wall Street, discusses the pervasive myths and realities of the financial world, emphasizing the importance of financial literacy and personal responsibility. He critiques the current state of private equity and alternative investments, warns about the dangers of government intervention in capitalism, and highlights the challenges faced by younger generations in the housing market. Markowski uses the Sisyphus analogy to illustrate the ongoing struggle against financial misinformation and scams, urging listeners to be vigilant and informed in their financial decisions.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:07):
Well known author, investment banker, consumer advocate, analyst trader Chris
Markowski is the.
Speaker 2 (00:14):
Watchdog Wall Street?
Speaker 1 (00:16):
Do you want to answer exposing the lines and myths
that the big brokerage firms, the mainstream press, and the
government are pushing to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the true truth.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:34):
Ladies and gentlemen.
Speaker 2 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:39):
This is the watchdog on Wall Streets.
Speaker 2 (00:45):
Welcome back, everybody. It is the watchdog on Wall Street Show.
I know, I know. I've been covering this next topic
at length and Austen not just here on the radio show,
but on our daily podcast as well. Part for the course.
(01:07):
Say here, folks, this is what we do. I you know,
banging people over the head back two thousand, two thousand
and one, two thousand and three, talking about the boiler
room operations, the things that were going on every everything
that we've warned people about, the dot com collapse prior
(01:28):
to that, when I was doing guest appearances and writing
about it. Yeah, I repeat myself often, and it's not
that I want to nag. I'm not trying to nag.
I'm trying to help, trying to help. I I've told
this story before. I actually talked about it again this
week on the podcast. This is something I wrote back
(01:52):
in two thousand and five. I'm talking about Sisyphis. Sisyphis
was the Greek mythology, was the founder and king of
Corinth and Sisyphus. He was a crafty fella, and he
tricked Hades. He tricked Hades, the god of the underworld,
(02:13):
played an iffy trick on it. You know. Basically, Hades
came for him. Okay, Hades came for anybody who died.
Hades came from him. And Hades was showing Sisyphis these
cool new things that he gat at their handcuffs, and
Sisyphis tricked Hades to try them on himself, and he
put Hades in a closet, locked the god of the
underworld in a closet and still hanging around, you know,
(02:38):
and enjoying himself there in ancient Greece. But nobody could die.
Nobody could die because Haities locked in a closet. So,
you know, somebody gets chopped up in a battle, he
dicks what they're fine at the end of the day,
they're showing up anyway. Hades gets out, ticked off, ticked
off at Sissyphis, sends him down to Hades. You know again,
his skin plays a trick on Hades's wife comes back
(03:02):
to the service, and then then again Hades, that's it,
that's all I can stand. I can't stay anymore, brings
Sissyphis down, and Sisyphis is condemned, condemned to eternity to
push a rock to the top of a hill only
to have it roll back down on top of them.
And column I wrote back in two thousand and five,
(03:23):
Sisyphis and the Watchdog, I said, I feel for Sisyphis
and his never ending frustration. We at Markowski Investments, we
hear watchdog on Wall Street show. We try every single day,
(03:45):
every single day, every week, every year, trying to clean
up the cramp on Wall Street in the garbage it's
being thrown at individual investors. Now, granted, okay, I love
what I do. I love what I do. But the
reality also is as well as my batting average is
not very good, it isn't My batting average is not
(04:09):
very good in the sense that you know, I see
the stories. They come in my box every single day.
I see all the ripoffs and scams. I know, the
people that inquire and ask about certain things. We warned
people about, madeoff for crying out lock didn't listen, warn
people about boiler room operators, warn people about structured products,
(04:31):
warn people about hedge funds that are gonna blow up
some listen. Those are great, okay, And it's worth it
for me. Okay, it's worth it for me to do
what we do to save those people. But like I said,
I'm probably you know, I'm probably maybe a two hundred hitter,
not very good because most people I can't. They get
(04:55):
sucked in greed and fear. Set the trap, get a
fun Oh yeah, we're gonna get these Gangbuster returns. And
again I learned this. This is one of the things
I've tried to get across to people. Okay. One of
the first things I was taught when I first started
working on Wall Street decades ago, was to paint a
(05:20):
picture to find out to find out what someone's greed
buttons were. And I'm not stop talking about I want
to Ferrari's. That's you know, maybe for some people, some
people's greed buttons can be I want to, I want
to help my church. I want to I want to
provide for my kids college education, my grandkid's education. Those
(05:45):
are greed buttons as well. Okay, something that you want
and once that investment con artist figures that out, oh yeah,
but you see what you'll be able to do, and
this will be able to provide and you'll be able
to provide for this kid and for that kid, and
all of a sudden, the only thing that sits in
someone's mind is that goal that they wanted is achieve
(06:10):
based upon doing this, and they forget about the risk
that's involved. Again, these guys are never telling you about
the risk. They throw on words like guaranteed and all
of this other nonsense. Anyway, I've been beating a drum
when it comes to many alternative investments and private equity. Okay,
(06:32):
I have now. Do we at Markowski Investments in certain
poor fotolios utilize alternative investments private equity? Absolutely and absolutely
we do. But I'm here to tell you the overwhelming
(06:54):
majority of funds that are out there are app loot,
dog crap, absolute dog crap. That is the reality. You want.
The other reality as well, they are pushing very very
(07:15):
hard to make these dog crap investments as accessible as
possible to the masses. Why would they do that. They
need to get out, They need to get out, and
it's it's getting pretty hard out there. I want to
(07:37):
talk about a ticking time bomb. Okay, nobody knows about
this a lot of these private equity guys because one
of the ways that they sell it is so well,
I'm invested in it too, I'm invested in it too.
And again they are when they put these funds together,
the general partners, they have to put a certain amount
of money in and oftentimes they borrow that money. You
(08:00):
remember First Republic that went under? Oh yeah, yeah, yeah,
they were a big lender, big lender to these hedge funds,
I mean private equity and hedge fund guys. So they
can put the money in and become a partner in
these private equity companies. Well, guess what. Guess what a
lot of these bills are coming doe for this money
(08:20):
that they've borrowed, and the rates are much much higher
if they want to refinance. And guess what, these private
equity funds haven't been making anything. The bonuses that are
being paid out are not that high. So they're getting
a little anxious sent many of these private equity companies
because they need to sell. Here is another headline and
(08:45):
another CI told you so a moment private equity leans
on weaker credit safeguards. What does that mean? Well, that
means is that, guess what, they're not paying close enough
atten at all to the credit worthiness of many of
the investments in these funds. And quite frankly, you would
(09:07):
think that that would be the case. That's how it
works normally. Uh uh no. Way. Now, the only way
you're gonna be able to detect it, there's a credit part.
Prom is gonna have to be a default. There was
a great column written by Cliff Asna this past week.
He is the founder of AQR Capital Management. Why does
(09:31):
private equity get to play make believe with prices? Thanks Cliff,
great column, great points. We've been pointing this out for
some time. Right now, investors and managers are playing a
very dangerous game of what he calls I like the
phrase volatility wandering. Yeah, oh no, the interim valuations of
(09:58):
what we have. It doesn't matter. We're gonna tell you
what the entire portfolio oh is worth. We know better
and it's much safer that we tell you all of
these things. What honestly, is it so bad that you
actually are honest with your investors? This is how frightened
(10:24):
they are. Now I get it, I get it. In
private investments, certain private equity companies, you know, liquidity, Okay,
you can only take out a certain amount. Again, these
are not liquid investments. But shouldn't shouldn't there be a
value put on these funds, a realistic value, And I'm
not talking of fire sale value. You know, in case
(10:46):
something horrible happens, that if you actually had to unwind
the thing, so people actually know the risk that's involved.
Do you understand how dangerous it is to understate risk
people start allocating portfolios in a haphazard matter. If that's
the case, and that's where we're at right now. Other column, Again,
(11:13):
I don't know. People have been listening to the watchdog
on Wall Street Show all of a sudden, echoing what
we've been saying. Some pe firms doomed to fail as
high flying industry loses its way. Private equities reckoning has
frustrated investors waiting longer for payouts, forcing firms to scale
back fundraisings. And offer secondary exits and diversify the funds
(11:37):
right now, Okay, not the ones we have the funds
right now. Overwhelming majority are choking on unsold assets. They
can't move them. You've got limited partners okay that have
been waiting a decade to get their money out. Okay,
(12:02):
the general partners are clinging to marks that no buyer
is willing to pay. And again, oh yeah, when money
was cheap, cheap, cheap, cheap, cheap people. Oh yeah, we
borrow a ton of money and we buy up companies
and we're gonna sell them at a higher price. Uh yeah, Okay,
you understand the performance of most of these private equities
(12:24):
have been absolute garbage. The I think the highest level
was thirteen percent on average in twenty twenty one. It's
what point eight? Now, okay, the gap between fantasy and
reality is right there for all to see. Now here's
something I noticed as well, and I mentioned this on
(12:45):
the program. Yeah, I saw this ages ago, when all
of a sudden I saw HVAC companies and small businesses
being bought out at absolutely ridiculous multiples. Ridiculous, insane. Oh yeah, hvac.
(13:06):
The HVAC market has weakened dramatically. Yeah, uh thirty drop
in July. Sales Carrier says third quarter residential volumes are
going to fall more than forty percent year over year.
So those same all those HVAC companies that you bought,
you're going to value them the same way they can't
(13:29):
sell them. Well, what about my business? And I warned
everybody about this investment advisory firms bought out at ridiculous multiples.
Do you understand understand what these firms are going to
have to do, the type of churning and burning that
they're gonna have to do with these advisory firms that
(13:52):
they bought in order to actually make this whole thing work.
This is a disaster. Okay, we warned you about this. Hey,
I told you few and far between. There's some good ones.
It's the same thing with hedge funds, exactly the same
few and far between. And what they're looking for right
(14:15):
now is for greater fools to buy their bs. This
is why I continue to beat this drum, This is
why I continue to push that rock to the top
of the hill on the podcast, on this show, I'm
trying to help you. I'm trying to save you from
getting smacked upside the head. If you have any questions
(14:39):
in regard to this. If your advisor youre shlockbroker, I
don't care who it may be.
Speaker 4 (14:44):
All of a sudden it comes up with at I
have great idea for your poo before we're gonna have
to diversify. I gotta have alternatives in your investment. You
gotta have private equity. You pick up the phone. Okay,
first and foremost, you're dealing with a doofus. Anyway, you
should have done this already.
Speaker 2 (14:58):
You go to our website, sign up for our personal
CFO program, and you actually work with some people that
know what the hell they're doing, okay, instead of working
with a salesperson that's being told by his sales manager
what to shove into your portfolio? Is that what you want?
Was that? What you was that? What you want out
(15:18):
of your I don't know your doctor. He's got a boss. Hey,
you know, we gotta you know, we gotta sell some
bypass surgeries here. Okay, you gotta. You gotta get some
people on the table. Same scenario for crying out loud
at some point in time, some point time. Again, I
talked about this first hour. You want to be an adult.
Personal responsibility, Personal responsibility and again I actually I do.
(15:48):
I do have people from you know, Chris, I wrecked
my portfolio. Should have listened. I was responsible. Good. Well, okay,
that's the first step. Don't be a greater fool. Got
to take a break. Watchdog on Wall Street dot com.
(16:09):
Watchdog on Wallstreet dot com. Sign up our personal CFO
program Again. Everyone is welcome at Markowski Investments, our podcast, newsletter,
all sorts of great stuff. Watchdog on Wallstreet dot Com.
We'll be back.
Speaker 1 (16:30):
You should believe in math not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (16:52):
All right, I gotta get into the world around us,
the economy where we're heading at as a country. Again,
new listeners to the program has always been a big
part of what we do here on the program. Again,
(17:13):
I guarantee, ah yet new listens. I guarantee I'm gonna
offend people here. And it's a bit of a problem
that we have right now in the country. And I'll
talk about this a little bit later, and it's just
leading to a lot of violence. Is people's inability inability
to listen to others, and they've they've conditioned us. Quite frankly,
(17:39):
they really have not me. I again warned everybody about
this when it first started. Media's changed, Media's changed, and
we are the biggest losers and this you know what
the biggest winners are those people that live and work
in Washington, d C. Yeah yeah, okay, for how many
(17:59):
years here on the program, right, put down your stupid donkey,
put down your stupid elephant and listen. Listen, both sides
of the aisle, okay, are getting fat and happy and
rich in DC. Oh yeah, look at our ludo's home
values in Bethesda, Fairfax for jaill okay, loaded. They want
(18:24):
us fighting and screaming and yelling at one another Congress
and you watch you know what takes place? Basically they
turn themselves into damn influencers for crying out lot. It's embarrassing. Yeah,
you think about social media. What does social media do?
They figure out, they figure out what your tendencies are,
(18:47):
and they push those dopamine buttons by feeding you, feeding
you information that that again, it's confirmation bias, pushing you
in a certain direction. Get you look at our television stations,
got left, you got right? Nobody can talk to one another,
(19:08):
and one can debate. You're on the other side, You're
the devil, You're evil. That's not how this country is
supposed to be. That's not how we're supposed to operate.
And quite frankly, it's my belief why Charlie Kirk's dead.
(19:30):
He understood that. He went to the other side and
he spoke with respect. Wasn't nasty to anyone who could
tear anybody apart, look to have a conversation, sharing ideas. Again,
that's what I've done here for two and a half
(19:51):
decades here on the program, and I can I can
show you the hateful, nasty messages and emails that I
get from people on both sides of the Yeah, I
make no apologies for who I am. I'm an actual
conservative and the truest sense of the word, a true conservant.
(20:11):
I'm a maga nonsense. I am a true conservative, libertarian
that believes in the Constitution, and quite frankly, a Catholic
first and foremost. I'll tell you exactly where I stand.
But you know what, I have no trouble going after
anyone and you should as well. Anyway, I got off
(20:32):
the beaten track. I got to get into our next
bit talking about the economy at large. Watchdog on Wallstreet
dot com is our site. We'll be back.
Speaker 1 (20:42):
Chris Markowski is the Watchdog of Wall Street Mustang bringing
America financial freedom, one listener at a time. You're listening
(21:04):
to the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:10):
Why did I go up on that little rant there
last segment? Well, again, I voted for Donald Trump twice,
and I go after him hard, just like i'd go
after any president hard. What they're doing right now as
(21:32):
far as the economy is concerned, and what they're doing
to capitalism, to me is disgusting. I am a free
market capitalist, tried and true free market capitalist. This nonsense
that Trump is pulling right now with this public private
(21:55):
partnership is the death of capitalism. It is. I would
go one further to say that it's actually worse, actually
worse than the green jobs crap that Obama pushed and
Biden pushed, And I'll explain to you why it's worse.
(22:18):
First and foremost, I'm sorry. Every single time I see
Howard Lutnik, he reminds me of like a Ventriloquis dummy
that's sitting on Trump's lap and Trump's got his hand up.
You know Howard Lutnick's button is making his mouth move
saying things. That's what he reminds me of this, these
(22:38):
things that they're doing right now, taking equity positions in Intel,
in nip On Steel. This past week, Lithium America's the
stock was up one hundred percent. Why because Trump says, Oh,
We're going to get an equity position in Lium America's
(23:00):
because we're giving them a two billion dollar loan or
whatever it may be. Story. Trump's team explores government back
manufacturing boost. No, what do you mean?
Speaker 1 (23:14):
This is great?
Speaker 2 (23:15):
We you know, we're handing out money to these companies
and stuff like that. You know we should get some
equity in that. Are you out of your own mind? Okay,
First and foremost, we shouldn't be handing money out to
any companies. What do you think I was happy when
Obama was handing out money to Solinder and Fisker and
all this other crap. We shouldn't be subsidizing any damn
(23:35):
industry here in this country. But do you understand what
you just did? Intel is now too big to fail
with THEUM America is now too big to fail. Nippon steel.
Okay again, they have to do whatever. Howard Lutnick wants,
(23:56):
Oh yeah, Nippon Steele wanted to close down a plan
in Illinois. Howard Litnix said, no, We've got golden shares
and we can tell you what to do. You can't
close that down. You think that this is how business
is supposed to operate out of Washington, DC. You think
that's that's the best way to handle it. You have
(24:18):
a Trump is such a great deal maker. Oh my god,
he's the greatest deal they've ever seen. Oh this deals
are great, These deals are freaking arstle. What if he's
not president anymore? You fool ever thought about that? Well
do you think you think that you know, Republicans are
gonna win forever, but you don't think that the Democrat
What do you think? What if Gavin Newsom wins wit?
(24:42):
You don't think it's out of the realm of possibility?
Or AOC wins and she starts taking stakes and handing
money out to green companies and making them too big
to fail. It's no good. Okay, this is not capitalism.
(25:10):
You know, we're so far down the hole as far
as moral hazard is concerned. As a country It makes
me sick to my stomach. And I'm sorry, I don't
mean yell, but damn I'm consistent. Man. I ripped George W.
(25:30):
Bush with his auto bailout. Obama put that damn thing
on steroids. What we did during a great recession, putting
out of business countless small banks, mid sized banks around
the country because they can no longer compete against the
(25:53):
too big to fail banks and the type of money
that they could raise at lower rates than they were
ever able to do, and not being able to keep
up with regulations. But you don't look look at Intel.
Stark is up and Trump has got a stake in it. Now,
Oh really, do you feel any richer right now because
(26:14):
the United States government has a stake in Intel? Do again?
People don't think down the road. What if a company,
we'll call it x Ysey Chips comes up with a
brand new way, a brand new way to manufacture chips,
(26:36):
the most sophisticated chips out there. They can do it
a cheaper way than Intel can. Now, capitalism would dictate that.
Guess what, x Ysey Chips would get business right. That's
that's what creates wealth here in this country. We build
(26:56):
upon it. Get more productive, productive, build a better mousetrap.
People will beat a path to your door. Now, X
y z chips not happening. What do you mean it's
not going to happen. Well, how's x y z chips
going to get financing or funding for their business? Well,
(27:17):
you think that, You think that Wall Street, you think
that banks, You think that private investors are going to say, hey,
you know we're going to compete against Uncle Sam. No.
Speaker 3 (27:30):
No.
Speaker 2 (27:30):
What x y z chips will have to do, knowing
that they're in that position, is that they'll have to
sell their ideas to Intel at a very low price.
Does that sound right to you? Does that sound fair
to you? You see, Joseph Schumpeter talked about this. It's
called it creative destruction. Companies need to go out of business,
(27:55):
Blue chips need to die. Too big to fail is
not capitalism. Running the American economy out of the damn
White House is not capitalism. Gotta take a break. Watchdog
on Wall Street dot com. Watchdog on Wallstreet dot com
(28:15):
is our site. Become a part of the Watchdog on
Wall Street family, personal CFO program, podcast, newsletter, all sorts
of great stuff. Watchdog on Wallstreet dot com or give
us a call eight hundred four seven one fifty nine
eighty four. The kids.
Speaker 1 (28:32):
What I'll say that he would say.
Speaker 3 (28:39):
Give me a ticket for an aeroplane. He got down
to take a bear.
Speaker 1 (28:45):
Straight tiki wall streets, liars, crooks and cheets out behind
the woodshed. You're listening to the watchdog on wall streets.
Speaker 3 (28:56):
Got ticket back to.
Speaker 2 (28:58):
Be welcome back. I got to offer up a well
quick apology to everyone who is again. I appreciate the emails.
I really really do a lot of emails and again
emails with people are thanking me or giving me kudos
(29:19):
for the calls that I've made on a myriad of
different things. We have been I have been, We've all
been at Markowski Investment, have been slammed, slammed a lot
of people, you know, dealing with various diffen riff offfs
and scams and things that are happening around the country
and clients coming. We've been slamming. It's good, it's good,
(29:42):
and we have to I have to deal with that
first and foremost. I will not have an assistant, an
in turn or anybody like that answer you know, my
kudos emails. I will get to them. Okay, I apologize.
I try to get to as many as I can
over the course of the week. I don't do social media.
I don't converse on social media. Yeah we post stuff
(30:02):
there and whatnot, but again I don't don't think it's
way to go. I will get to them, but I
do apologize for that. I want to talk quickly ken
about good old our friend Jerome Powell and you saw
what happened comes out and talks about lowering rates and
(30:26):
maybe three great cuts this year, maybe three, maybe another
four next year. What happened? Why did mortgage rates go up?
Because mortgage rates are not tied to what the FED does.
We tried to make that perfectly clear to everyone, and
(30:51):
I thought I laid it out here on the program.
But I still get to understanal image to go out.
I told you why. I told you why, you know,
and it needs to be done. You know, I need,
you know, I need to become a kind of like
(31:11):
a central bank makeover. You know, I got those television
shows on HGTV where they fix a house or you
got bar rescue. Yeah, I'm gonna volunteer my services to
central banks around the globe. Okay, you can get rid
of all your five hundred economists. I've come in there
and I will do a Central bank makeover. Gotta take
(31:32):
a break. Watchdog on Wallstreet dot com. Watchdog on Wallstreet
dot Com. We'll be back.
Speaker 1 (31:41):
You're listening to the Watchdog on Wall Street. This is
(32:02):
the Watchdog on Wall Street.
Speaker 2 (32:11):
Quarterback. All right, Okay. I been talking about this for
some time, and I feel for the younger generations. I
really do. There's a lot of many, many hit pieces
out there about their work, ethic and all these various
(32:31):
different things. And I've seen those problems too, and we've
made funny here on the program. We've teased you about it.
But I get I get that no light at the
end of the tunnel feeling that many of you have.
And I want to break this down. Okay, break this
down to all people out there that have no sympathy
for their plight. Okay, here are the calculations. It would
(32:57):
take one of three things, one of three things, or
a combination for affordability to return. This is for homes
here in the United States to return to two thousand
and sixteen to two thousand nineteen levels. Number one, the
(33:18):
median price of a single family home would need to
fall thirty eight percent to two hundred and fifty seven
thousand dollars Right now, it's four hundred and fourteen thousand,
three hundred and forty dollars, a thirty eight percent haircut
(33:40):
on home prices median price homes. Or number two, the
median income. Median household income in the United States would
have to rise by wait for it, sixty percent, sixty
percent to one hundred and thirty four thousand, five one
hundred dollars. The mortgage rate would need to fall to
(34:08):
two point three five percent. What's it at right now?
Six' five that's? Reality. Okay out of the, three the most,
plausible quite, frankly would be the home values to fall
by thirty eight. Percent that would be the most plausible because,
(34:31):
again two of these things contradict one, another, okay they,
Would they would work against one. Another so if the
median household income all of a sudden went to one
hundred and thirty four thousand and five, hundred THE fed
would be, like Holy, schnike's we've got wage inflation that's taken,
place and they would have to jack up interest, rates
(34:51):
meaning mortgage rates would also obviously. Follow when it came to.
That You, no it was, sad. SAD i saw these
T i also saw this as. Well this is what it.
Is seventy five, percent seventy five percent of baby boomers
(35:12):
say they value stability in their community over affordability for
younger generations to move. In, meanwhile fifty nine percent of
boomer homeowners would vote for a political candidate who would
prioritize protecting home values even if it meant fewer people
(35:38):
could afford. Homes that that's the numbers for. YOU i
actually relayed these things on my, podcast AND i got
a lot of baby. Boomers, actually, no, no, no, no, no,
no that's not, me AND i know it's you know.
Many they got a lot of good, people good. PEOPLE
i go after baby boomers a lot here on the.
(35:59):
Problem there's a lot of great ones out. There, OKAY
i understand. That i'm just telling. You this is what
the statistics are telling. Me this is what the numbers.
Did seventy five percent and then fifty nine. Percent home
values are at ridiculous. Levels and, again this is one
of the things that's part of another conspiracy to keep
people poor and. Stupid this idea that oh it's. Wonderful
(36:21):
home prices go through the. Roof oh, yeah who is
it great? For, Okay i'm gonna ask this To you're
gonna ask you a quick. Question, okay you've got a
house that's worth five hundred thousand, Dollars you live in that,
house and all of a sudden you wake up tomorrow
and that house is worth seven hundred thousand. Dollars somebody
(36:44):
say it's worth seven hundred thousand. Dollars does that change
your life at? All, No, no it doesn't change your.
Life maybe trying to sell it at that point. Time
but what we've done with the housing, market you, know
(37:05):
you want to go. Back we got to go back
quite frankly prior to The Great, recession and we got
cheap money flowing, around you, Know alan Green. Span throughout,
history home values pretty much rose with the rate of.
Inflation how is it great for the economy when we
(37:26):
have all of these overpriced homes that are out there
and people become house. Poor not to mention the fact
you've got the situation where property taxes and older people
they can't they can't sell because they're going to get
hit with a capital gains. Tax their property taxes are.
High they can't afford the house. Anymore the entire thing
(37:49):
is an absolute mess right. Now this is something That
trump needs to deal with. Asap our governor here in
the state Of florida is actually dealing with the property tax,
issue and he's looking to eliminate property taxes for anybody
who's homestead of their home owner. Occupied you live in the,
(38:11):
home you don't have to pay that, anymore which is
going to be a big. Help you gotta put your
foot on the neck Of blackstone any other private equity
companies in corporate ownership that have bought up all of
these homes here In. America it's a bunch of bull
(38:31):
crap that there's not enough homes that are out. There
there's a plenty of homes available here in The United.
States they are being. Hoarded the values of these homes
are being. INFLATED i explain to you how they do.
It how they buy up a track of, homes hold onto,
(38:51):
it sell it to themselves and has to sell it
to another fund that they own at a major. Premium,
oh look at. That we got comps now that are much,
higher so we can raise our. Prices then we can
have the entire value of our portfolio go, up then
we can charge our clients fees on. That, again this
is not. Capitalism this is a. Bastardization, okay this is
(39:14):
a this is an island Of Doctor moreau. Capitalism quite,
frankly you messed around with. It, Anyway gotta take a.
Break watchdog On wallstreet dot, com watchdog on wallstreet dot.
Com we'll be.
Speaker 1 (39:27):
Back Chris markowski is the watchdog On Wall street
Well known author, investment banker, consumer advocate, analyst trader Chris
Markowski is the.
Speaker 2 (00:14):
Watchdog Wall Street?
Speaker 1 (00:16):
Do you want to answer exposing the lines and myths
that the big brokerage firms, the mainstream press, and the
government are pushing to keep Americans away from financial freedom.
Speaker 2 (00:27):
You can't handle the true truth.
Speaker 1 (00:30):
Bringing America the truth about what really happens in the
financial world.
Speaker 3 (00:34):
Ladies and gentlemen.
Speaker 2 (00:35):
We're not here to indulge in fantasy, but in political
and economic reality.
Speaker 1 (00:39):
This is the watchdog on Wall Streets.
Speaker 2 (00:45):
Welcome back, everybody. It is the watchdog on Wall Street Show.
I know, I know. I've been covering this next topic
at length and Austen not just here on the radio show,
but on our daily podcast as well. Part for the course.
(01:07):
Say here, folks, this is what we do. I you know,
banging people over the head back two thousand, two thousand
and one, two thousand and three, talking about the boiler
room operations, the things that were going on every everything
that we've warned people about, the dot com collapse prior
(01:28):
to that, when I was doing guest appearances and writing
about it. Yeah, I repeat myself often, and it's not
that I want to nag. I'm not trying to nag.
I'm trying to help, trying to help. I I've told
this story before. I actually talked about it again this
week on the podcast. This is something I wrote back
(01:52):
in two thousand and five. I'm talking about Sisyphis. Sisyphis
was the Greek mythology, was the founder and king of
Corinth and Sisyphus. He was a crafty fella, and he
tricked Hades. He tricked Hades, the god of the underworld,
(02:13):
played an iffy trick on it. You know. Basically, Hades
came for him. Okay, Hades came for anybody who died.
Hades came from him. And Hades was showing Sisyphis these
cool new things that he gat at their handcuffs, and
Sisyphis tricked Hades to try them on himself, and he
put Hades in a closet, locked the god of the
underworld in a closet and still hanging around, you know,
(02:38):
and enjoying himself there in ancient Greece. But nobody could die.
Nobody could die because Haities locked in a closet. So,
you know, somebody gets chopped up in a battle, he
dicks what they're fine at the end of the day,
they're showing up anyway. Hades gets out, ticked off, ticked
off at Sissyphis, sends him down to Hades. You know again,
his skin plays a trick on Hades's wife comes back
(03:02):
to the service, and then then again Hades, that's it,
that's all I can stand. I can't stay anymore, brings
Sissyphis down, and Sisyphis is condemned, condemned to eternity to
push a rock to the top of a hill only
to have it roll back down on top of them.
And column I wrote back in two thousand and five,
(03:23):
Sisyphis and the Watchdog, I said, I feel for Sisyphis
and his never ending frustration. We at Markowski Investments, we
hear watchdog on Wall Street show. We try every single day,
(03:45):
every single day, every week, every year, trying to clean
up the cramp on Wall Street in the garbage it's
being thrown at individual investors. Now, granted, okay, I love
what I do. I love what I do. But the
reality also is as well as my batting average is
not very good, it isn't My batting average is not
(04:09):
very good in the sense that you know, I see
the stories. They come in my box every single day.
I see all the ripoffs and scams. I know, the
people that inquire and ask about certain things. We warned
people about, madeoff for crying out lock didn't listen, warn
people about boiler room operators, warn people about structured products,
(04:31):
warn people about hedge funds that are gonna blow up
some listen. Those are great, okay, And it's worth it
for me. Okay, it's worth it for me to do
what we do to save those people. But like I said,
I'm probably you know, I'm probably maybe a two hundred hitter,
not very good because most people I can't. They get
(04:55):
sucked in greed and fear. Set the trap, get a
fun Oh yeah, we're gonna get these Gangbuster returns. And
again I learned this. This is one of the things
I've tried to get across to people. Okay. One of
the first things I was taught when I first started
working on Wall Street decades ago, was to paint a
(05:20):
picture to find out to find out what someone's greed
buttons were. And I'm not stop talking about I want
to Ferrari's. That's you know, maybe for some people, some
people's greed buttons can be I want to, I want
to help my church. I want to I want to
provide for my kids college education, my grandkid's education. Those
(05:45):
are greed buttons as well. Okay, something that you want
and once that investment con artist figures that out, oh yeah,
but you see what you'll be able to do, and
this will be able to provide and you'll be able
to provide for this kid and for that kid, and
all of a sudden, the only thing that sits in
someone's mind is that goal that they wanted is achieve
(06:10):
based upon doing this, and they forget about the risk
that's involved. Again, these guys are never telling you about
the risk. They throw on words like guaranteed and all
of this other nonsense. Anyway, I've been beating a drum
when it comes to many alternative investments and private equity. Okay,
(06:32):
I have now. Do we at Markowski Investments in certain
poor fotolios utilize alternative investments private equity? Absolutely and absolutely
we do. But I'm here to tell you the overwhelming
(06:54):
majority of funds that are out there are app loot,
dog crap, absolute dog crap. That is the reality. You want.
The other reality as well, they are pushing very very
(07:15):
hard to make these dog crap investments as accessible as
possible to the masses. Why would they do that. They
need to get out, They need to get out, and
it's it's getting pretty hard out there. I want to
(07:37):
talk about a ticking time bomb. Okay, nobody knows about
this a lot of these private equity guys because one
of the ways that they sell it is so well,
I'm invested in it too, I'm invested in it too.
And again they are when they put these funds together,
the general partners, they have to put a certain amount
of money in and oftentimes they borrow that money. You
(08:00):
remember First Republic that went under? Oh yeah, yeah, yeah,
they were a big lender, big lender to these hedge funds,
I mean private equity and hedge fund guys. So they
can put the money in and become a partner in
these private equity companies. Well, guess what. Guess what a
lot of these bills are coming doe for this money
(08:20):
that they've borrowed, and the rates are much much higher
if they want to refinance. And guess what, these private
equity funds haven't been making anything. The bonuses that are
being paid out are not that high. So they're getting
a little anxious sent many of these private equity companies
because they need to sell. Here is another headline and
(08:45):
another CI told you so a moment private equity leans
on weaker credit safeguards. What does that mean? Well, that
means is that, guess what, they're not paying close enough
atten at all to the credit worthiness of many of
the investments in these funds. And quite frankly, you would
(09:07):
think that that would be the case. That's how it
works normally. Uh uh no. Way. Now, the only way
you're gonna be able to detect it, there's a credit part.
Prom is gonna have to be a default. There was
a great column written by Cliff Asna this past week.
He is the founder of AQR Capital Management. Why does
(09:31):
private equity get to play make believe with prices? Thanks Cliff,
great column, great points. We've been pointing this out for
some time. Right now, investors and managers are playing a
very dangerous game of what he calls I like the
phrase volatility wandering. Yeah, oh no, the interim valuations of
(09:58):
what we have. It doesn't matter. We're gonna tell you
what the entire portfolio oh is worth. We know better
and it's much safer that we tell you all of
these things. What honestly, is it so bad that you
actually are honest with your investors? This is how frightened
(10:24):
they are. Now I get it, I get it. In
private investments, certain private equity companies, you know, liquidity, Okay,
you can only take out a certain amount. Again, these
are not liquid investments. But shouldn't shouldn't there be a
value put on these funds, a realistic value, And I'm
not talking of fire sale value. You know, in case
(10:46):
something horrible happens, that if you actually had to unwind
the thing, so people actually know the risk that's involved.
Do you understand how dangerous it is to understate risk
people start allocating portfolios in a haphazard matter. If that's
the case, and that's where we're at right now. Other column, Again,
(11:13):
I don't know. People have been listening to the watchdog
on Wall Street Show all of a sudden, echoing what
we've been saying. Some pe firms doomed to fail as
high flying industry loses its way. Private equities reckoning has
frustrated investors waiting longer for payouts, forcing firms to scale
back fundraisings. And offer secondary exits and diversify the funds
(11:37):
right now, Okay, not the ones we have the funds
right now. Overwhelming majority are choking on unsold assets. They
can't move them. You've got limited partners okay that have
been waiting a decade to get their money out. Okay,
(12:02):
the general partners are clinging to marks that no buyer
is willing to pay. And again, oh yeah, when money
was cheap, cheap, cheap, cheap, cheap people. Oh yeah, we
borrow a ton of money and we buy up companies
and we're gonna sell them at a higher price. Uh yeah, Okay,
you understand the performance of most of these private equities
(12:24):
have been absolute garbage. The I think the highest level
was thirteen percent on average in twenty twenty one. It's
what point eight? Now, okay, the gap between fantasy and
reality is right there for all to see. Now here's
something I noticed as well, and I mentioned this on
(12:45):
the program. Yeah, I saw this ages ago, when all
of a sudden I saw HVAC companies and small businesses
being bought out at absolutely ridiculous multiples. Ridiculous, insane. Oh yeah, hvac.
(13:06):
The HVAC market has weakened dramatically. Yeah, uh thirty drop
in July. Sales Carrier says third quarter residential volumes are
going to fall more than forty percent year over year.
So those same all those HVAC companies that you bought,
you're going to value them the same way they can't
(13:29):
sell them. Well, what about my business? And I warned
everybody about this investment advisory firms bought out at ridiculous multiples.
Do you understand understand what these firms are going to
have to do, the type of churning and burning that
they're gonna have to do with these advisory firms that
(13:52):
they bought in order to actually make this whole thing work.
This is a disaster. Okay, we warned you about this. Hey,
I told you few and far between. There's some good ones.
It's the same thing with hedge funds, exactly the same
few and far between. And what they're looking for right
(14:15):
now is for greater fools to buy their bs. This
is why I continue to beat this drum, This is
why I continue to push that rock to the top
of the hill on the podcast, on this show, I'm
trying to help you. I'm trying to save you from
getting smacked upside the head. If you have any questions
(14:39):
in regard to this. If your advisor youre shlockbroker, I
don't care who it may be.
Speaker 4 (14:44):
All of a sudden it comes up with at I
have great idea for your poo before we're gonna have
to diversify. I gotta have alternatives in your investment. You
gotta have private equity. You pick up the phone. Okay,
first and foremost, you're dealing with a doofus. Anyway, you
should have done this already.
Speaker 2 (14:58):
You go to our website, sign up for our personal
CFO program, and you actually work with some people that
know what the hell they're doing, okay, instead of working
with a salesperson that's being told by his sales manager
what to shove into your portfolio? Is that what you want?
Was that? What you was that? What you want out
(15:18):
of your I don't know your doctor. He's got a boss. Hey,
you know, we gotta you know, we gotta sell some
bypass surgeries here. Okay, you gotta. You gotta get some
people on the table. Same scenario for crying out loud
at some point in time, some point time. Again, I
talked about this first hour. You want to be an adult.
Personal responsibility, Personal responsibility and again I actually I do.
(15:48):
I do have people from you know, Chris, I wrecked
my portfolio. Should have listened. I was responsible. Good. Well, okay,
that's the first step. Don't be a greater fool. Got
to take a break. Watchdog on Wall Street dot com.
(16:09):
Watchdog on Wallstreet dot com. Sign up our personal CFO
program Again. Everyone is welcome at Markowski Investments, our podcast, newsletter,
all sorts of great stuff. Watchdog on Wallstreet dot Com.
We'll be back.
Speaker 1 (16:30):
You should believe in math not magic. You're listening to
the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (16:52):
All right, I gotta get into the world around us,
the economy where we're heading at as a country. Again,
new listeners to the program has always been a big
part of what we do here on the program. Again,
(17:13):
I guarantee, ah yet new listens. I guarantee I'm gonna
offend people here. And it's a bit of a problem
that we have right now in the country. And I'll
talk about this a little bit later, and it's just
leading to a lot of violence. Is people's inability inability
to listen to others, and they've they've conditioned us. Quite frankly,
(17:39):
they really have not me. I again warned everybody about
this when it first started. Media's changed, Media's changed, and
we are the biggest losers and this you know what
the biggest winners are those people that live and work
in Washington, d C. Yeah yeah, okay, for how many
(17:59):
years here on the program, right, put down your stupid donkey,
put down your stupid elephant and listen. Listen, both sides
of the aisle, okay, are getting fat and happy and
rich in DC. Oh yeah, look at our ludo's home
values in Bethesda, Fairfax for jaill okay, loaded. They want
(18:24):
us fighting and screaming and yelling at one another Congress
and you watch you know what takes place? Basically they
turn themselves into damn influencers for crying out lot. It's embarrassing. Yeah,
you think about social media. What does social media do?
They figure out, they figure out what your tendencies are,
(18:47):
and they push those dopamine buttons by feeding you, feeding
you information that that again, it's confirmation bias, pushing you
in a certain direction. Get you look at our television stations,
got left, you got right? Nobody can talk to one another,
(19:08):
and one can debate. You're on the other side, You're
the devil, You're evil. That's not how this country is
supposed to be. That's not how we're supposed to operate.
And quite frankly, it's my belief why Charlie Kirk's dead.
(19:30):
He understood that. He went to the other side and
he spoke with respect. Wasn't nasty to anyone who could
tear anybody apart, look to have a conversation, sharing ideas. Again,
that's what I've done here for two and a half
(19:51):
decades here on the program, and I can I can
show you the hateful, nasty messages and emails that I
get from people on both sides of the Yeah, I
make no apologies for who I am. I'm an actual
conservative and the truest sense of the word, a true conservant.
(20:11):
I'm a maga nonsense. I am a true conservative, libertarian
that believes in the Constitution, and quite frankly, a Catholic
first and foremost. I'll tell you exactly where I stand.
But you know what, I have no trouble going after
anyone and you should as well. Anyway, I got off
(20:32):
the beaten track. I got to get into our next
bit talking about the economy at large. Watchdog on Wallstreet
dot com is our site. We'll be back.
Speaker 1 (20:42):
Chris Markowski is the Watchdog of Wall Street Mustang bringing
America financial freedom, one listener at a time. You're listening
(21:04):
to the Watchdog on Wall Street with Chris Markowski.
Speaker 2 (21:10):
Why did I go up on that little rant there
last segment? Well, again, I voted for Donald Trump twice,
and I go after him hard, just like i'd go
after any president hard. What they're doing right now as
(21:32):
far as the economy is concerned, and what they're doing
to capitalism, to me is disgusting. I am a free
market capitalist, tried and true free market capitalist. This nonsense
that Trump is pulling right now with this public private
(21:55):
partnership is the death of capitalism. It is. I would
go one further to say that it's actually worse, actually
worse than the green jobs crap that Obama pushed and
Biden pushed, And I'll explain to you why it's worse.
(22:18):
First and foremost, I'm sorry. Every single time I see
Howard Lutnik, he reminds me of like a Ventriloquis dummy
that's sitting on Trump's lap and Trump's got his hand up.
You know Howard Lutnick's button is making his mouth move
saying things. That's what he reminds me of this, these
(22:38):
things that they're doing right now, taking equity positions in Intel,
in nip On Steel. This past week, Lithium America's the
stock was up one hundred percent. Why because Trump says, Oh,
We're going to get an equity position in Lium America's
(23:00):
because we're giving them a two billion dollar loan or
whatever it may be. Story. Trump's team explores government back
manufacturing boost. No, what do you mean?
Speaker 1 (23:14):
This is great?
Speaker 2 (23:15):
We you know, we're handing out money to these companies
and stuff like that. You know we should get some
equity in that. Are you out of your own mind? Okay,
First and foremost, we shouldn't be handing money out to
any companies. What do you think I was happy when
Obama was handing out money to Solinder and Fisker and
all this other crap. We shouldn't be subsidizing any damn
(23:35):
industry here in this country. But do you understand what
you just did? Intel is now too big to fail
with THEUM America is now too big to fail. Nippon steel.
Okay again, they have to do whatever. Howard Lutnick wants,
(23:56):
Oh yeah, Nippon Steele wanted to close down a plan
in Illinois. Howard Litnix said, no, We've got golden shares
and we can tell you what to do. You can't
close that down. You think that this is how business
is supposed to operate out of Washington, DC. You think
that's that's the best way to handle it. You have
(24:18):
a Trump is such a great deal maker. Oh my god,
he's the greatest deal they've ever seen. Oh this deals
are great, These deals are freaking arstle. What if he's
not president anymore? You fool ever thought about that? Well
do you think you think that you know, Republicans are
gonna win forever, but you don't think that the Democrat
What do you think? What if Gavin Newsom wins wit?
(24:42):
You don't think it's out of the realm of possibility?
Or AOC wins and she starts taking stakes and handing
money out to green companies and making them too big
to fail. It's no good. Okay, this is not capitalism.
(25:10):
You know, we're so far down the hole as far
as moral hazard is concerned. As a country It makes
me sick to my stomach. And I'm sorry, I don't
mean yell, but damn I'm consistent. Man. I ripped George W.
(25:30):
Bush with his auto bailout. Obama put that damn thing
on steroids. What we did during a great recession, putting
out of business countless small banks, mid sized banks around
the country because they can no longer compete against the
(25:53):
too big to fail banks and the type of money
that they could raise at lower rates than they were
ever able to do, and not being able to keep
up with regulations. But you don't look look at Intel.
Stark is up and Trump has got a stake in it. Now,
Oh really, do you feel any richer right now because
(26:14):
the United States government has a stake in Intel? Do again?
People don't think down the road. What if a company,
we'll call it x Ysey Chips comes up with a
brand new way, a brand new way to manufacture chips,
(26:36):
the most sophisticated chips out there. They can do it
a cheaper way than Intel can. Now, capitalism would dictate that.
Guess what, x Ysey Chips would get business right. That's
that's what creates wealth here in this country. We build
(26:56):
upon it. Get more productive, productive, build a better mousetrap.
People will beat a path to your door. Now, X
y z chips not happening. What do you mean it's
not going to happen. Well, how's x y z chips
going to get financing or funding for their business? Well,
(27:17):
you think that, You think that Wall Street, you think
that banks, You think that private investors are going to say, hey,
you know we're going to compete against Uncle Sam. No.
Speaker 3 (27:30):
No.
Speaker 2 (27:30):
What x y z chips will have to do, knowing
that they're in that position, is that they'll have to
sell their ideas to Intel at a very low price.
Does that sound right to you? Does that sound fair
to you? You see, Joseph Schumpeter talked about this. It's
called it creative destruction. Companies need to go out of business,
(27:55):
Blue chips need to die. Too big to fail is
not capitalism. Running the American economy out of the damn
White House is not capitalism. Gotta take a break. Watchdog
on Wall Street dot com. Watchdog on Wallstreet dot com
(28:15):
is our site. Become a part of the Watchdog on
Wall Street family, personal CFO program, podcast, newsletter, all sorts
of great stuff. Watchdog on Wallstreet dot com or give
us a call eight hundred four seven one fifty nine
eighty four. The kids.
Speaker 1 (28:32):
What I'll say that he would say.
Speaker 3 (28:39):
Give me a ticket for an aeroplane. He got down
to take a bear.
Speaker 1 (28:45):
Straight tiki wall streets, liars, crooks and cheets out behind
the woodshed. You're listening to the watchdog on wall streets.
Speaker 3 (28:56):
Got ticket back to.
Speaker 2 (28:58):
Be welcome back. I got to offer up a well
quick apology to everyone who is again. I appreciate the emails.
I really really do a lot of emails and again
emails with people are thanking me or giving me kudos
(29:19):
for the calls that I've made on a myriad of
different things. We have been I have been, We've all
been at Markowski Investment, have been slammed, slammed a lot
of people, you know, dealing with various diffen riff offfs
and scams and things that are happening around the country
and clients coming. We've been slamming. It's good, it's good,
(29:42):
and we have to I have to deal with that
first and foremost. I will not have an assistant, an
in turn or anybody like that answer you know, my
kudos emails. I will get to them. Okay, I apologize.
I try to get to as many as I can
over the course of the week. I don't do social media.
I don't converse on social media. Yeah we post stuff
(30:02):
there and whatnot, but again I don't don't think it's
way to go. I will get to them, but I
do apologize for that. I want to talk quickly ken
about good old our friend Jerome Powell and you saw
what happened comes out and talks about lowering rates and
(30:26):
maybe three great cuts this year, maybe three, maybe another
four next year. What happened? Why did mortgage rates go up?
Because mortgage rates are not tied to what the FED does.
We tried to make that perfectly clear to everyone, and
(30:51):
I thought I laid it out here on the program.
But I still get to understanal image to go out.
I told you why. I told you why, you know,
and it needs to be done. You know, I need,
you know, I need to become a kind of like
(31:11):
a central bank makeover. You know, I got those television
shows on HGTV where they fix a house or you
got bar rescue. Yeah, I'm gonna volunteer my services to
central banks around the globe. Okay, you can get rid
of all your five hundred economists. I've come in there
and I will do a Central bank makeover. Gotta take
(31:32):
a break. Watchdog on Wallstreet dot com. Watchdog on Wallstreet
dot Com. We'll be back.
Speaker 1 (31:41):
You're listening to the Watchdog on Wall Street. This is
(32:02):
the Watchdog on Wall Street.
Speaker 2 (32:11):
Quarterback. All right, Okay. I been talking about this for
some time, and I feel for the younger generations. I
really do. There's a lot of many, many hit pieces
out there about their work, ethic and all these various
(32:31):
different things. And I've seen those problems too, and we've
made funny here on the program. We've teased you about it.
But I get I get that no light at the
end of the tunnel feeling that many of you have.
And I want to break this down. Okay, break this
down to all people out there that have no sympathy
for their plight. Okay, here are the calculations. It would
(32:57):
take one of three things, one of three things, or
a combination for affordability to return. This is for homes
here in the United States to return to two thousand
and sixteen to two thousand nineteen levels. Number one, the
(33:18):
median price of a single family home would need to
fall thirty eight percent to two hundred and fifty seven
thousand dollars Right now, it's four hundred and fourteen thousand,
three hundred and forty dollars, a thirty eight percent haircut
(33:40):
on home prices median price homes. Or number two, the
median income. Median household income in the United States would
have to rise by wait for it, sixty percent, sixty
percent to one hundred and thirty four thousand, five one
hundred dollars. The mortgage rate would need to fall to
(34:08):
two point three five percent. What's it at right now?
Six' five that's? Reality. Okay out of the, three the most,
plausible quite, frankly would be the home values to fall
by thirty eight. Percent that would be the most plausible because,
(34:31):
again two of these things contradict one, another, okay they,
Would they would work against one. Another so if the
median household income all of a sudden went to one
hundred and thirty four thousand and five, hundred THE fed
would be, like Holy, schnike's we've got wage inflation that's taken,
place and they would have to jack up interest, rates
(34:51):
meaning mortgage rates would also obviously. Follow when it came to.
That You, no it was, sad. SAD i saw these
T i also saw this as. Well this is what it.
Is seventy five, percent seventy five percent of baby boomers
(35:12):
say they value stability in their community over affordability for
younger generations to move. In, meanwhile fifty nine percent of
boomer homeowners would vote for a political candidate who would
prioritize protecting home values even if it meant fewer people
(35:38):
could afford. Homes that that's the numbers for. YOU i
actually relayed these things on my, podcast AND i got
a lot of baby. Boomers, actually, no, no, no, no, no,
no that's not, me AND i know it's you know.
Many they got a lot of good, people good. PEOPLE
i go after baby boomers a lot here on the.
(35:59):
Problem there's a lot of great ones out. There, OKAY
i understand. That i'm just telling. You this is what
the statistics are telling. Me this is what the numbers.
Did seventy five percent and then fifty nine. Percent home
values are at ridiculous. Levels and, again this is one
of the things that's part of another conspiracy to keep
people poor and. Stupid this idea that oh it's. Wonderful
(36:21):
home prices go through the. Roof oh, yeah who is
it great? For, Okay i'm gonna ask this To you're
gonna ask you a quick. Question, okay you've got a
house that's worth five hundred thousand, Dollars you live in that,
house and all of a sudden you wake up tomorrow
and that house is worth seven hundred thousand. Dollars somebody
(36:44):
say it's worth seven hundred thousand. Dollars does that change
your life at? All, No, no it doesn't change your.
Life maybe trying to sell it at that point. Time
but what we've done with the housing, market you, know
(37:05):
you want to go. Back we got to go back
quite frankly prior to The Great, recession and we got
cheap money flowing, around you, Know alan Green. Span throughout,
history home values pretty much rose with the rate of.
Inflation how is it great for the economy when we
(37:26):
have all of these overpriced homes that are out there
and people become house. Poor not to mention the fact
you've got the situation where property taxes and older people
they can't they can't sell because they're going to get
hit with a capital gains. Tax their property taxes are.
High they can't afford the house. Anymore the entire thing
(37:49):
is an absolute mess right. Now this is something That
trump needs to deal with. Asap our governor here in
the state Of florida is actually dealing with the property tax,
issue and he's looking to eliminate property taxes for anybody
who's homestead of their home owner. Occupied you live in the,
(38:11):
home you don't have to pay that, anymore which is
going to be a big. Help you gotta put your
foot on the neck Of blackstone any other private equity
companies in corporate ownership that have bought up all of
these homes here In. America it's a bunch of bull
(38:31):
crap that there's not enough homes that are out. There
there's a plenty of homes available here in The United.
States they are being. Hoarded the values of these homes
are being. INFLATED i explain to you how they do.
It how they buy up a track of, homes hold onto,
(38:51):
it sell it to themselves and has to sell it
to another fund that they own at a major. Premium,
oh look at. That we got comps now that are much,
higher so we can raise our. Prices then we can
have the entire value of our portfolio go, up then
we can charge our clients fees on. That, again this
is not. Capitalism this is a. Bastardization, okay this is
(39:14):
a this is an island Of Doctor moreau. Capitalism quite,
frankly you messed around with. It, Anyway gotta take a.
Break watchdog On wallstreet dot, com watchdog on wallstreet dot.
Com we'll be.
Speaker 1 (39:27):
Back Chris markowski is the watchdog On Wall street
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.